President Donald Trump plans to release a “phenomenal” tax cut plan in the next few weeks.
While he plans to cut business taxes, the Trump tax plan for individuals may have the biggest impact on your wallet.
Here’s a look:
|Trump Tax Plan – Single||Tax %||Trump Tax Plan – Married Filing Jointly||Tax %|
|$0 – $37,500||12%||$0 – $75,000||12%|
|$37,500 – $112,500||25%||$75,000 – $225,000||25%|
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|Current Tax Plan – Single||Tax %||Current Tax Plan – Married Filing Jointly||Tax %|
|$0 – $9,275||10%||$0 – $18,550||10%|
|$9,275 – $37,650||15%||$18,550 – $75,300||15%|
|$37,650 – $91,150||25%||$75,300 – $151,900||25%|
|$91,150 – $190,150||28%||$151,900 – $231,450||28%|
|$190,150 – $413,350||33%||$231,450 – $413,350||33%|
|$413,350- $415,500||35%||$413,350 – $466,950||35%|
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